Howestreet.com - the source for market opinions

ALWAYS CONSULT YOUR INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION

March 15, 2020 | Virtual Money: Not Approved as ‘Legal Tender’ by our Congress! Technically ‘Illegal’!

Donald B. Swenson: Born January 24, 1943, Roseau, Minnesota. Graduated H.S. 1961, Moorhead High, Minnesota. Graduated College 1968, Moorhead State University, Minnesota. Designated member of Appraisal Institute (MAI), 1974. Employed with Western Life Insurance Company, 1968 – 71; Iowa Securities Company, 1971 – 73; American Appraisal Company, 1974 – 81. Part-time teacher/valuation consultant/bartender, 1979 – 2008 (taught workshops at Waukesha County Technical Institute, Wi. and Madison Area Technical College, Wi.). Retired 2008 (part time teacher/blogger), AZ. Self educated economist/philosopher/theologian: http://kingdomecon.wordpress.com.

Today, at the clubhouse my investor friends and I talked about the counterfeiting operations of our Fed (called QE) and also the issues of what is ‘official legal tender’ for monetary transactions (based upon prior Congressional legislation). Is a virtual dollar equivalent or identical to a paper or coin dollar? Ans. NO. Has our Congress reviewed what our Fed is now doing (QE, etc.) and approved the virtual dollar as official legal tender for U.S. money transactions? Answer: NO!

To my way of thinking, our Fed is a criminal operation (as it now operates) which needs to be closed down immediately. It is corrupt to the hilt and it no longer serves the people and our international system of commerce. It follows no prior approved principles outlined within our Constitution (on money issues). Review my prior missive on the history of money to discern what has happened. It’s the March 12 missive entitled “Trump (says): Our Financial Markets are Just Fine? Really?” I cover the issues of how money evolved.

My investor friends do agree that virtual money (today’s dollar) is not a physical item from nature. Read the definition of virtual to discern its meaning:

virtual: COMPUTING not physically existing as such but made by software to appear to do so.
“a virtual computer”
carried out, accessed, or stored by means of a computer, especially over a network.

This definition reveals that a virtual dollar does not physically ‘exist’ and is simply ‘made’ to ‘appear’ as such by software. Software allows a virtual dollar to circulate within cyberspace so as to ‘appear’ to be a real ‘thing’. In reality, a virtual dollar is not a ‘thing’. It derives from the human consciousness. Thing means that an object exists as a substance of matter/energy. Paper notes are a ‘thing’. Metal coins are a ‘thing’. But a virtual dollar (QE operations and typed numbers/symbols) to establish a loan account are not creating a ‘thing’ or ‘physical object’ but a policymaker merely ‘types’ money numbers/symbols into a computer screen and this becomes the virtual money account for the policymaker and then the client.

Our virtual dollar travels from computer machine to computer machine: Data (today’s money) travels across the internet in packets. … That’s part of what makes the Internet so robust and fast. Packets will travel from one machine to another until they reach their destination. As the packets arrive, the computer receiving the data assembles the packets like a puzzle, recreating the message. Virtual money travels in this same manner.

Each packet hops to a local Internet service provider (ISP), a company that offers access to the network — usually for a fee. The next hop delivers the packet to a long-haul provider, one of the airlines of cyberspace that quickly carries data across the world. All happens at near the speed of light (currencies travel or flow within cyberspace).

Cyberspace is nothing more than a symbolic and figurative space that happens within the scope of the Internet. It can be said that anything that is done via the use of Internet, occurs within the confines of the cyber-space, whether that is sending an e-mail, a dollar, digital currencies, a website, or playing a game, all of these events happen within cyber-space. Comment: I would add that ‘cyberspace’ can also be viewed as an ‘extension of my/your consciousness’. The space is not observable and does not live within our material universe of ‘matter/energy’.

Cyberspace is important not only because of the actions of individual participants but because the infrastructure of cyberspace is now fundamental to the functioning of national and international security systems, trade networks, emergency services, basic communications, and other public and private activities. The virtual space created by interconnected computers and computer networks on the Internet. Cyberspace is a conceptual electronic space unbounded by distance or other physical limitations.

Cyberspace(noun) a computer network consisting of a worldwide network of computer networks that use the TCP/IP network protocols to facilitate data transmission and exchange. According to Gibson, cyberspace is the name of a real non-space world, which is. characterized by the ability for virtual presence of, and interaction between, people. through ‘icons, waypoints and artificial realities’.

Cyberspace refers to the virtual computer world, and more specifically, is an electronic medium used to form a global computer network to facilitate online communication. … Cyberspace’s core feature is an interactive and virtual environment for a broad range of participants. Cyberspace is more of a concept than an actual tangible entity, and it relies on a physical infrastructure that connects networks to other networks.

Cyber objects (like a currency) can disappear/vanish if the network of computers is disconnected and/or if the data is deleted from the memory chip. Data (dollar, yen, euro, pound, etc.) are virtual and these units vanish and disappear if a computer network is disconnected. Deletion of a cyber currency is simple and it is done daily by our banking agents. Virtual additions and subtractions are the result of pushing the ‘delete’ key for the cyber object. All this means that all our debt (now within cyberspace) can be extinguished with the punch of a computer ‘delete’ key.

There is no substance to our virtual debt, virtual currencies, virtual prices, and virtual values. A DEBT Jubilee is possible for the entire planet. We could delete all money items and start over with a clean slate. As I write our income ‘inequality’ is outrageous. Bernie Sanders points this out daily. Some 101 billionaires in Russia own some 35% of all Russian wealth (per today’s Wall Street Journal).

America has 639 billionaires who own more wealth than the bottom 50%. Some 1% of Americans own more wealth than the bottom 90%. All this happens with a FED system that funnels wealth to the well-heeled and restricts wealth from those who labor and create most of our production. It’s diabolical and corrupt. Bernie’s Socialism, however, will not solve this issue. It will make it much worse. Biden and Trump are equally corrupt (philosophically) IMO. The ONLY real solution is Kingdom Economics. Read my blog to discern a better alternative for our nation and world.

Now is the time to recognize that our current corrupt system must be abolished. We need to start with our criminal Federal Reserve System which perpetuates all these ‘inequalities’ via their policies and practices. Money is the ‘root’ of this evil and our FED is the culprit which magnifies all this corruption. Here is some history of our Fed for your consideration. https://www.youtube.com/watch?v=U5IyUFqUN88

All this corruption and criminal activity could change if people get themselves educated on the core issues of money, banking, and the alternatives which could solve all these issues. Freedom, justice, and responsibility could emerge if a NEW MODEL (as proposed within Kingdom Economics) is followed or adopted. Our future is NOW! Think on these issues at your leisure. Watch the above video (two minutes) for evidence of how our corrupt banking system operates. It’s shocking to a thinking person who knows some history on this issue of money and economics. Have a great day! I am: https://kingdomecon.wordpress.com.

STAY INFORMED! Receive our Weekly Recap of thought provoking articles, podcasts, and radio delivered to your inbox for FREE! Sign up here for the HoweStreet.com Weekly Recap.

March 15th, 2020

Posted In: Kingdom Economics

Post a Comment:

Your email address will not be published. Required fields are marked *

All Comments are moderated before appearing on the site

*
*

This site uses Akismet to reduce spam. Learn how your comment data is processed.